![]() Schwab California Municipal Money Fund™ (SWKXX) - Investor Shares: 2.83% For example, look at these two funds and their yields: They tend to deliver lower returns, however. ![]() Some of the Schwab funds invest in municipal bonds, which means there may be tax advantages with these funds in certain situations. Every one of them is a Schwab fund with at least a billion dollars in assets. This will produce a list of every money market mutual fund available to TD Ameritrade customers.Ĭurrently, there are 17 funds on the list. On the next page, there will be a row of tabs at the top of the site. To find the money market search tool, hover over the Research & Ideas tab in the top of the website and then select Families from the Mutual Funds sub-category. These funds are easily accessible inside a TD Ameritrade account thanks to the broker’s user-friendly website. Investors who want more than an annual return of 0.35% will find it a money market mutual fund. However, the Plus program pays the same interest rate on uninvested cash. This is for clients with over a million dollars in assets. TD Ameritrade also operates an IDA Plus program. The APY on TD Ameritrade’s bank-sweep program is currently Any existing deposits with these banks could reduce the maximum limit of insurance available through the IDA program. Currently, TD Ameritrade uses a variety of financial institutions, including Wells Fargo, Citibank, and affiliates of Charles Schwab Bank as its partner banks. Instead, the bank simply holds the money while it is available for trading inside the TD Ameritrade account.īecause TD Ameritrade uses multiple banks for the IDA program, it’s possible to get a larger amount of insurance than the standard $250,000 FDIC limit. When an account’s available cash balance is moved to a bank, the transfer doesn’t create a separate deposit account. Thus, the uninvested cash is protected by the FDIC rather than SIPC. This is a sweep system that moves idle cash from a brokerage account to a bank with FDIC insurance. The first cash option we’re going to look at is the Insured Deposit Account (IDA). ![]() It’s important to be aware of these differences as the rates of return can vary significantly. TD Ameritrade clients have multiple choices for handling free cash balances. TD Ameritrade cash sweep account options (FDIC-insured bank, money market fund). TD Ameritrade Money Market Fund Rates in 2023
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